Daymark Wealth Partners LLC Boosts Holdings in Caterpillar Inc. (NYSE:CAT)

Daymark Wealth Partners LLC raised its holdings in Caterpillar Inc. (NYSE:CAT) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,360 shares of the industrial products company’s stock after purchasing an additional 106 shares during the period. Caterpillar accounts for approximately 1.7% of Daymark Wealth Partners LLC’s portfolio, making the stock its 12th largest holding. Daymark Wealth Partners LLC’s holdings in Caterpillar were worth $50,204,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CAT. Acadian Asset Management LLC grew its holdings in shares of Caterpillar by 17.2% during the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after buying an additional 1,327 shares in the last quarter. Alpha Cubed Investments LLC raised its holdings in Caterpillar by 5.6% in the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock valued at $45,591,000 after acquiring an additional 6,212 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Caterpillar during the 1st quarter worth $926,000. Natixis Advisors LLC grew its position in shares of Caterpillar by 3.5% in the second quarter. Natixis Advisors LLC now owns 278,259 shares of the industrial products company’s stock valued at $92,688,000 after purchasing an additional 9,321 shares during the period. Finally, Bailard Inc. increased its stake in Caterpillar by 3.1% in the second quarter. Bailard Inc. now owns 13,435 shares of the industrial products company’s stock valued at $4,475,000 after purchasing an additional 398 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the sale, the insider now directly owns 33,442 shares in the company, valued at approximately $11,750,181.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cheryl H. Johnson sold 1,508 shares of Caterpillar stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $350.00, for a total value of $527,800.00. Following the sale, the insider now directly owns 18,515 shares in the company, valued at $6,480,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,668 shares of company stock valued at $2,665,760. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on CAT shares. Barclays lifted their price target on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Raymond James assumed coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. UBS Group lifted their target price on Caterpillar from $270.00 to $285.00 and gave the company a “sell” rating in a report on Wednesday, August 7th. Evercore ISI dropped their price target on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Bank of America boosted their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average price target of $339.94.

Caterpillar Stock Performance

NYSE:CAT traded up $5.39 during trading hours on Wednesday, reaching $393.35. 482,480 shares of the stock were exchanged, compared to its average volume of 2,653,567. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $401.17. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $192.37 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.73 and a beta of 1.10. The firm has a 50 day simple moving average of $353.51 and a 200-day simple moving average of $348.44.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share for the quarter, beating the consensus estimate of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. During the same quarter in the previous year, the firm earned $5.55 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Caterpillar Inc. will post 21.91 earnings per share for the current fiscal year.

Caterpillar declared that its board has initiated a stock repurchase plan on Wednesday, June 12th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.